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are triggered by the fiscal cliff. democrats and republicans appear stuck on entitlement reforms. democrats don't want deep cuts to programs like medicaid, medicare, social security. some republicans say it's the only way to get a deal. >> the reason we're having these negotiations is because washington democrats have spent money without any care for the cost or the future. and refuse to do anything to protect long-term spending programs like medicare, a failure that's among the biggest single drivers of our debt. >> one out of three people in this country are going to rely on medicare and head cade for their health insurance. so we need to find ways to preserve these programs. >> senator durbin says the debate over entitlement programs should be fought after the new year. he's going to join us in a few minutes to talk about it. >>> police on new york's long island investigating a deadly bus crash, a 6-year-old boy was killed last night when the driver of that bus lost control and went barreling into the front bedroom of the boy's home. police say the bus driver swerved to avoid hitting a pedes
people here in washington are calling the fiscal cliff. today, we have new proof that people across the country not only are aware of what's going on, they're very, very worried. our new poll shows 68% say the country will face either a crisis or major problems if the cuts in taxes aren't avoided. and a whopping 77% say their personal financial situation will be affected by a failure to solve the fiscal cliff problem. despite this nationwide sense of urgency, there's only a little talk of compromise right now as lawmakers return to washington. our congressional correspondent, kate bolduan, has been working her sources on capitol hill and what's going on. stakes are enormous right now. what's going on? >> they were away for a week. staff was supposed to be working. but lawmakers are arriving back in town with no real whisper of an imminent breakthrough at the moment to avoid this looming series of tax increases and spending cuts that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments
in washington. the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senato
a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on there. that was very
have a fiscal curve/cliff/mole hill, however you choose to describe it, that includes, of course, the bush tax cuts, but also, the bigger piece is sequestration and the payroll tax cut again. another fight the president has had before. what do you make of his focus only on the bush tax cuts and specifically the middle income earners. >> this was a theme throughout the campaign, something he came out early on and hit hard on. it underscores this larger issue about inequality in this country which is an economic problem. you can't have a sustained recovery when 98% of the population hasn't gotten a raise in the last few years or decades depending on who they are. i think people are starting to focus on that. i think this issue of taxes is crucial of that. i think if we're going to go to the other cuts that need to happen, the entitlement reform you need to have a sense from the population that the rich are doing their part, that there is a sort of social cohesion. you can look to europe and see what happens when you don't have that. >> the president spoke in his comments effectivel
." >>> president obama ramps up the sales pitch on his fiscal cliff picks. will public pressure push republicans into a deal. one leading house republican who happens to be a former pollster takes a very vocal position on what he thinks his party needs to do and to do now. >>> u.n. ambassador susan rice's attempt to smooth things over doesn't go over as well as she or the white house would have liked. guess who stepped out to vouch for her. none other than a retiring amigo, senator joe lieberman. >>> and new numbers on a hypothetical matchup for 2013 that would be sure to get some votes. what would happen if cory booker took on chris christie. that's not the only big 2013 news this morning on the campaign front. good morning from washington. it's wednesday, november 28, 2012. this is "the daily rundown." i'm chuck todd. right to my first read of the morning. so is washington just running out the clock until about ten days before christmas when everyone smells the jet fuel and gets ready to cut a deal to avoid the so-called fiscal cliff? some days it feels that way. the president is stepping up h
in that cabinet meeting. he says they're going to talk about hurricane sandy, the fiscal cliff, some national security issues. but to your question, we already know that secretary of state clinton plans to depart treasury secretary geithner and even defense secretary leon panetta has made it clear he would like to leave within the year. the current white house chief of staff still considered the odds on favorite to get the nod to become the next treasury secretary from the president. it's believed he has the greatest chance here it's believed of getting senate confirmation. that leaves open the job of white house chief of staff. and i'm hearing that among the names that are being considered for that role are ron clay, the man once biden's chief of staff and did himself i'm told a great service in president obama's debate prep despite that bad first debate the president takes responsibility for it, does not blame mr. clain. and another name i've heard floated is dennis mcdunna. earned the great respect and admiration of the president. a young man not often considered in that light but the pres
's time to work on the fiscal cliff. can both sides strike a bargain before everyone's tacks go up. we'll cover that with our headliners. senators dick durbin and lindsey graham. plus our powerhouse roundtable. matthew dowd, joe klein, ruth marcus, david sanger of "the new york times" and peggy noonan of "the wall street journal." >>> then ben affleck. >> you saw your parents killed? >> with war breaking out in congo, he's here live on what can be done to stop the fighting. >>> and -- >> i'm jonathan karl, i'm going to show you how this clipper will bring bipartisanship to washington. >>> hello, again. you just saw one small step for bipartisanship, is there more to come in washington? congress is back to work this week. top priority, a deal to block those automatic spending cuts and tax increases now set for january 1st, and some smart money is starting to bet that the president and congress will find a way to avoid that fiscal cliff. stocks up this week in anticipation of a deal with the dow clocking five straight of gains. and black friday consumer spending was down as well. now let
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, obama launches p.r. effort on cliff the fiscal cliff, of course. putting pressure on congress, president will talk to small business owners. so here's what's going on. right. with this fiscal cliff looming the president has laid out -- very, very clear what he's talking about, what he wants to see. it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th and mitt romney put forth his plan and the american people said no, we don't like that romney way of going which is to continue to coddle the rich. we agree with president obama. so now the negotiations are underway. abo
of pushing for immigration and fiscal cliff and saving up his capital there? >> reporter: well, it's clear the president is fond of susan rice. you saw that in the press conference after the election. he really forcefully defended her. you saw more passionate people had been waiting for from the president. if there's a time to push someone, the president believes is the best personed to the job, it's after you win the election in a pretty strong way. so the president, i think, if he wants to push her, now is the team to do it. it's interesting that so many senators such as john mccain and lindsey graham oppose her. policy-wise she's closer to them in terms of policy and intervention and human rights than, say, senator john kerry, for example. >> amanamanda, you referenced t press conference where the president went to bat for susan rice. let's actually take a listen to them. >> for them to go after the u.n. ambassador who this nothing to do with benghazi and was simply making a presentation based on intelligence that she had received and to besmurch her reputation is outrageous. when they
if there is no deal on the fiscal cliff? >> that's right, andrea. we looked at what would happen if the middle-class tax cuts are not extended. the typical middle-class family with two children would see a $2200 tax increase next year if the tax cuts are not extended. that will hit their pocketbook. that would reduce consumption by 1.7 percentage points and reduce gdp growth by 1.4 percentage points and would be a big hit to retailers. we calculate that about $200 billion less would be spent next year than would otherwise be the case if the tax cuts for the middle class are not extended. and just to put that in perspective, that's about four times as much as spent over black friday weekend. >> why isn't there more action? we don't see the leaders coming to the hill, we don't see any meetings. what is going on perhaps behind the scenes because mitch mcconnell, among others, critics of the president, of course, were saying where is the presidential engagement. why is he going out to the public and continuing a political campaign to drum up support and not engaging one on one, meeting with the le
against the clock trying to reach an agreement on the fiscal cliff that is fast approaching. the president is trying to ramp up public pressure on congress to accept his ideas for debt reduction in. in the coming days he meets with small business owners, middle class taxpayers, around corporate leaders. friday he tried to recapture his winning spirit in pennsylvania touring a toy manufacturing plant. i don't think the event is in whoville but the republicans as grinch playbook is probably evident enough. to hear some of the president's team, they see this christmas going their way. >> i think we're going to get this done. i'm more positive than most. i'm heartened by many ever my senate republican colleagues who have stepped forward and basically said that their real oath is to america and not to a washington loppiest named grover norquist. >> it's actually true. some republicans have signaled a willingness to buck grover norquist and his anti-tax pledge and raise some new revenue. "the wall street journal" weighed in with a reasonable argument. president obama's re-election means the taxe
as we get word of a major development here and talks over the so-called fiscal cliff. we'll have that in a moment. plus, ta-da, get your tickets out. tonight, the powerball jackpot hitting a record and this hour president obama getting ready to hold his first cabinet meeting since being re-elected. and keep in mind, some members of that cabinet, they will not be there for long. but first, the fiscal cliff battle here that landed in your lap today. president obama, even wants you to tweet about it. the president went full court press asking americans to pressure congress to keep middle class tax cuts for families earning $250,000 or less. >> it is too important for washington to screw this up. now is the time for us to work on what we all agree to, which is let's keep middle class taxes low. tweet, use the hashag my2k or e-mail, post it on a member of congress' facebook wall, do what it takes to communicate a sense of urgency. i'll sign this bill as soon as congress sends it my way. i got to repeat, i've got a pen. i'm ready to sign it. so -- >> the president wants republicans to
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
rose petal in the path of john kerry to be the secretary of state. >> the fiscal cliff negotiations the president trying to rally the middle class in favor of the tax increases on the rich, what is the next step in terms of the real key players which is the president and john boehner? i know they've been talking, there have been a lot of conversations on the phone. is there going to be a meeting? >> you know, andrea, i hesitates to make predictions but i would say that my guess we're probably in a similar place in 14 days as we are today, which is they're talking, the tax rates on the wealthy entitlement reform, these things are still on the table but we haven't had anything defintive. congress and washington in general works best and sometimes works only under a very tight deadline. i can't imagine anything getting done in the next 10 to 14 days, other than kind of the participants, the important participants getting together whether on the phone or in person to hash it out. i think we're looking at kind of closer to christmas rather than further from christmas for a deal if there
to say, raise taxes or lower spending or going off the fiscal cliff. where are you? and how do you feel about tinkering with medicare and medicaid? >> look, i think we've got to put aside all of the sacred cows and really got to be willing, as dick durbin said, sit down and negotiate and come up with a plan, a long-term plan that's balanced, that looks at the domestic side of the budget, the defense side, the mandatory programs, and the revenue side. and if we're willing to do that, then i think we can get an agreement. but i think to go to the tax issue that you were talking about earlier, there are really two issues there. one is the amount of revenue that needs to be raised. but the other question is a fairness question. and if we're asking people to accept the sacrifices that they're going to be making if we're cutting spending in areas that are going to really affect middle class families and others, then we've also got to be willing to ask those who are doing the best in this country to share in that sacrifice. and what i've heard from people in new hampshire is they're willing to
have an admiral pass in my pocket. who is with me. meanwhile, we have a fiscal cliff to climb. her meetings with senators mccain and graham and ayotte created more questions than answers. ambassador susan rice taking her case to two more republicans today. peter doocy has more. >> you are right, brian. ambassador rice will meet with susan collins from maine and bob corker from tennessee . ahead of his meeting that what worries him most about ambassador rice she may be more concerned about delivering the party line than pressuring the administration when it might be off base. three other republican senators met with the embattled ambassador and that meeting did little to quiet their harsh criticism of her job performance. >> i am more concerned than i was before that the 15th of september explan of how four americans died in benghazi, libya. >> why she wouldn't have asked i am the person who doesn't know about this and going on every show. it is not only the talking points unclassified but part of her responsibility as the ambassador . united nations she reviewed more than that. >>
, but other way, the republicans are in motion over the fiscal cliff. the democrats are not moving. good morning, everyone, several leading republicans say they will put more tax revenue on the table. that's a shift. warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers. they really need our money now. watch out, everybody, "varney & company" is about to begin. get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement peopl who are paid on sary, not commission. they'll get st
coburn about the fiscal cliff, affordable care act and the future of the republican party on book tv's "in depth." the senator has written several books and reports including the latest, "debt bomb." join us with your calls, emails, tweets for senator tom coburn live sunday at noon eastern on book tv's "in depth" on c-span2. >> and over at the white house today, the president's resolving with fiscal cliff issues, he's meeting with business owners. the president and vice president will visit with the president-elect of mexico, enrique pena nieto. u.s. house coming in momentarily. back from the thanksgiving break. they'll come in for short speeches in just a moment. later this afternoon they'll begin work on five bills one of which would require the department of homeland security to report annually on border security and illegal immigrants. votes at 6:30 this evening. later this week they'll be working on a proposal for a new visa proposal for foreign students, foreign college students taking advanced degrees in science, engineering and math. off the floor this week democrats will ele
the affordable care act on the table in fiscal cliff negotiations. congressman elijah cummings will respond. papa john's plays politics with pizza and the people fight back. >> no, no, no, no. >> we'll tell you about the pizza maker's face-saving move. and republicans never rest. ohio senator turner on the effort to block the vote in 2016. >>> and political comedian, baratunde thurston on how to talk to this guy at thanksgiving. ♪ i want my country back, country back, country back ♪ . >>> good evening, folks. thanks for watching. someone needs to sit down with the republicans and explain to them how negotiations work. when you have no leverage, you don't get to make outlandish statements and demands. house speaker john boehner recently called himself the most reasonable man in washington, but in an editorial for the cincinnati enquirer today, boehner took the very unreasonable position of including obama care in debt negotiations. "the president's health care law adds a massive, expensive, unworkable government program at a time when our national debt already exceeds the size of our country's
it with me, 35 days to avoid the dreaded fiscal cliff, the huge package of tax hikes and spending cuts set to take effect january 1 if congress and the president do not cut a deal. we're told they have been talking behind the scenes and president obama has already hosted congressional leaders for a post election sit-down. but the president is also launching a new pr effort, a campaign, some are calling it here, starting with the white house meeting today, of small business owners. then tomorrow, the president hosts more business owners and a group of middle class americans who would be hurt if the tax hikes take effect the first of the year. then friday, a campaign style stop in pennsylvania, a toy factory of all places, highlighting the importance of middle class consumers in this holiday season. but back in washington, senate leaders, they are speaking out. you have democrat harry reid saying the president won the election. and it is time for republicans to fall in line. meantime, republican mitch mcconnell not impressed with the president's plans to go back on the road. take a listen. >
into this story. thank you. i really appreciate it. coming up, president obama's new fiscal cliff strategy revealed. the president taking a page from his campaign. he's trying to get the public on his side when it comes to extending the bush tax cuts for the middle class. do the exit polls show he has the public on his side? chris van hollen will join us live. plus, another day of deadly protests in cairo over egypt's president morsi's new sweeping powers that he is seeking. we'll get a live report. plus, the former head of florida's republican party, he's making a stunning claim about the state's early voting law saying it was deliberately designed to suppress minority votes. it's just one of the things we thought you should know. join our conversation on twitter. you can find us at @tamronhall and at @newsnation. a winter wonderland doesn't just happen. it takes some doing. some coordinating. and a trip to the one place with the new ideas that help us pull it all together. from the things that hang and shine... ...to the things that sparkle and jingle. all while saving the things that go
not going to happen. when you wake up tomorrow, you will be facing like everybody else the fiscal cliff. you can have your dessert in a second but first here is your main course. ready? remember this guy? i know you do. it's only been three weeks since he came in second in a bitterly fought hugely expensive national election. dan lothian is at the white house right now where that man is about to meet the man who did win the election, the president, and this is of course, dan, not exactly how mitt romney was hoping to walk through the doors of the white house, is it? >> reporter: no, not at all. i mean, i think he would have loved to have had it be the other way around where he is the president inviting former president obama to come here. no, the two will be sitting down here at the white house tomorrow having a private lunch in the private dining room. there will be no press coverage but we hope that perhaps there will abphoto. remember back on election night the president talked about looking forward to sitting down with governor romney to talk about ways to move the country forward. this
he speaks russian. >> steve: and talking about the fiscal cliff. the private talks are accelerating. and the president of the united states called mr. boehner and mr. reid over the weekend. it looks like the president is going to continue the push and meet with the ceo's tomorrow. they upon meet with irskin bowles. he was the co-chair of simpson-bowles commission . mr. bowles had a great plan. he is a democrat, that offered up 800 billion in new revenue and overhaul the tax system and changes to medicare and that's why the republicans are asking the democrats to come in and explain your deal. this plan was hatched in 2010 and everyone walked away from it and now they call bowles back up? it is late. this is what the american people are upset about. nothing gets done. >> steve: we are a month from the cliff. >> gretchen: we could have avoided the cliff if they used the plan as a starting point. americans are upset nothing gets done. >> brian: norquist is the bad guy. you should walk away from grover norquest. he said you have enough money on capitol hill and stop asking us . he's bee
republican counterparts, here's speaker boehner on an editorial on the fiscal cliff. he makes it very clear that the battle over obama care is far from over. he says, quote, the tactics of our repeal efforts will have to change. we need to repeal obama care and enact common sense, step by step reforms that start with lowering the cost of health care. clearly speaker boehner hasn't quite accepted the fact that the president was re-elected by an overwhelming majority. nope, is he right back to defending the 1% and corporate welfare at the expense of none other than the middle class. for more, we go to joy reid, managing either of grio.com and jared bernstein. welcome to you both. >> nice to be here. >> earlier we asked you to come up with a figure, because you know i have -- like a dog with a bone on this. we asked you to come up with a figure how much corporate welfare per year is dolled out. what did you find out? >> from the tax policy center, nonpartisan, highly reliable group, $150 billion in tax expenditures that favor corporations in 2012. so, there's your number. >> now, if i'm not mi
in washington with plenty to do trying to negotiate a solution to stave off the fiscal cliff. everyone was getting along last friday when all of the leaders met at the white house but now that it's time to deal things are getting a bit tougher. let's bring in david and steve. happy thanksgiving, guys. thanks for getting up early with us. >> good morning. >> first one to you, david, the staffers have told politico that these talks are off to a rough start and issue is, it's the same, the revenue, how to get it. what congressman tom cole said on "jansing and company" yesterday. >> important as to how you get that revenue. i was disappointed to see leader pelosi say it had to be higher rates or nothing. i don't think that's the way you begin a negotiation. >> what about the possibility of keeping the same rates but eliminating deductions for the wealthy in. >> i think that's a good potential suggestion. >> so you hear that, republicans have opened the door to revenue but not by raising taxes. is that going to be enough? might that be the compromised point? >> if you listen to the white ho
. >> this weekend talk with oklahoma senator tom coburn about the fiscal cliff, the affordable care act and the future of the republican party on "book tv"'s in depth. the senator written several books and reports including the latest, the debt bomb. join the conversation with calls, e-mails and tweets comements and for doctor, senator tom coy burn. sunday noon eastern on "book tv"'s in depth on c-span2. >>> up next, for-profit practitioners discuss the role of private enterprise in public education. they lose also look at the obama administration approach to education reform. that was hosted yesterday at the american enterprise institute in washington. it is 90 minutes. >> hi. welcome, thanks for joining us. whether you're here at home, hope everybody had a terrific thanksgiving. i know that we're just getting back and, so the energy level is probably going to be, mellow, which we'll make that work for us, since we're going to talk about what sometimes is contentious subject. today's panel is on the question of for-profits and federal education policy. this is a topic that we ad aei ha
's on the table though for the fiscal cliff to be eliminated or to be capped. >> gregg: it could go away january. it could be capped or thrown away entirely. talk to us about some of the best ways to give at the same time helping yourself with a tax deduction. >> first of all americans are generous. 2% of their income they give regardless. revenues are down because we have been through a recession. but they continue to give. it's that generosity of spirit that we continue to see through sandy and all the rest. there are a couple of things you have to know. you have to itemize on your tax return. it has to go to a qualified nonprofit. if you are giving food to people that need it you can't deduct that because it's to an individual, it has to be a qualified nonprofit. you need a receipt if are giving away $250 or more. if it is over $5,000 you need an appraisal. you need to consider the fair market value. if you are giving away clothes, it's not like what you paid for what they are basically worth. you can get receipts for stuff and money. there is a lot of different ways to do it. >> gregg: i too
concerns as, do, frankly most c.e.o.'s. should we tumble over the fiscal cliff, the concerns are the impact that will have first and for most on the consumer. i saw it could take $200 billion out of the consumer evidence that is bad. taxes will be jacked up and membership less and a bunch of bad second --. >>neil: what if it is a deal it is disproportional tax hikes. >>guest: the question would, whose income is affected? who is seeing the faction hikes? are those the people that are spending money on day-to-day stuff? >>neil: so, a hike on the well to do would have less impact, is limited to the well-to-do than everyone, right? >>guest: for most consumer facing companies, they would say, yes, that is probably true. the effect that has on the long term in terms of capital formation is different, but if you are asking, short, short-term, macroeconomic effect, that is what is first and foremost and the other thing is our health care system is broken. >>neil: in your business that is more paramount. >>guest: we fowl we can be part of the solution to that because things like obesity are signific
'll be able to work something out by the deadline. if we go off the fiscal cliff and all those good economic numbers turn south, the question is who's going to be blamed for this. a lot of what the president's doing now is making sure that he's not the one who's going to be blamed, that it will be the republicans. that, in turn, puts him in a better bargaining position. >> now, victoria, in 2004 president obama, after his re-election, said he earned political capital. but he wasn't able to accomplish some of his biggest second-term goals. let me show you what mr. bush had to say at that point. >> i earned capital in the campaign, political capital. now i intend to spend it. it is my style. that's what happened in -- after the 2000 election. i earned some capital. i've earned capital in this election and i'm going to spend it. >> but he spent it but he didn't get a lot of what he was trying to push done. is the president, by continuing to go out, continuing a campaign after election day, sort of learning also, not only from what he might not have done before, but what george bush and other in
' fight to avoid a fiscal cliff as house speaker john boehner says there may be no way to avoid the oncoming tax increases and spending cuts if the president isn't willing to put his signature program, the healthcare law, on the chopping block. what does that really mean? byron york is chief political correspondent at the washington examiner and a fox news contributor. byron i want you to explain this. i mean, look, obamacare passed the u.s. supreme court and obviously it's not going to be overturned by executive fiat by a president mitt romney. so that leaves a third approach and here what john boehner rights, congress has a constitutional responsibility to conduct thorough oversight of the executive branch and congressional oversight will play a critical role in appealing obama care going forward. how in the world does that happen? >> well, it's not going to play a role in p repealing obamacare. this is a little bit of a surprise from bean bone, he said right after the election i guess that settles it, that makes it the law of the land. what the white house will say, obamacare
republican on the homeland security committee. >>> more republicans say the looming "fiscal cliff" is forcing them to reconsider their no tax pledges. some are now open to changes. dick durbin plans to lay out a proposal for a bipartisan group deemed the gang of 8. they have been working on a plan to reduce debt. if the lawmakers don't pass a plan by the end of the december tax hikes and budget cuts kick in. >>> a cyber monday tradition for federal officials took dozens of websites offline. it was the third annual crackdown on websites selling counterfeit merchandise. the sites were shut done after copyright holders that sports, dvds and other goods investigators bought on the websites were fake. the sites now display a banner that explains what happened. >>> robbers in san francisco are stealing iphones at an alarming rate. now, some people are trying to do something about it. at this beauty shop in the russian hill area, workers are warning customers that people are being robbed of their phones sometimes at gunpoint. distracted women are often the targets. >> i was just sitting there lookin
the table to avoid that fiscal cliff, including obamacare. automatic cuts will start january 2nd if an agreement isn't reached. he said in an op-ed, we can't afford it. and we can't afford it to leave it intact. that's why i've been clear that the law has to stay on the table as both parties discuss ways to solve our nation's massive debt challenge. >>> a special election following jesse jackson jr.'s resignation from congress. jackson says he needs to spend time, quote, restoring my health. jackson mysteriously disappeared from capitol hill in may and his office later revealed he was dealing with depression and had been diagnosed with bipolar disorder. health concerns aren't the only thing jackson is facing, though. ted rowlands is in chicago. good morning, ted. >> reporter: good morning, carol. yeah. well, the health concerns are significant. he had two stints at the mayo clinic. talking to family members, that was the main reason why he just couldn't move forward. and he gave his letter of resignation to john boehner yesterday. in that letter, though, for the first time -- thi
on. obviously the fiscal cliff as well. the president is sitting down with a dozen chief executeties today to talk about this. some of them were prominent supporters of mitt romney. and then the president is going to try and sell his budget plan going to a toy factory. speaking of -- >> that's where i'd go. >> speaking of the budget, coming up, former treasurer secretary larry summers joins us on set and ray liotta and mark mckinnon and in a few minutes harold ford jr. up next the top stories in the political playbook with mike allen but first bill karins with a check on the forecast. bill. >> good morning, mika and everyone out here live rockefeller plaza. the world's failous rockefeller center christmas tree will be lit 8:00 nbc, 7:00 central. this tree has a little bit of history, not your typical tree. this tree had to survive hurricane sandy and was picked out in new jersey and had to tie it up quickly right before the storm hit to protect it from the storm because they didn't want to have to pick out a new tree. it survived, of course, sitting here and it'll be later on this ev
and prepare for success. i do think i can offer those insights. >> woodruff: when you talk about the fiscal cliff are the deadline is supposed to be january 1, but you've been out there talking about what can be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in revenue over the next 10 years, which would take the potential trillion-dollar sequester and cut it in half. and
for the rich to end end. >> caller: i think this whole fiscal cliff thing is a conspiracy of cartoonists. easier to draw a cliff, i guess. i've seen so many of them. but this again one of these self-constructed crises that congress is really good at building. there is a real easy way out of it, and i think actually we're seeing a little bit of movement on the republican side that might make it pretty easy to get over it. with tom coal the republican from oklahoma saying that we just ought to go ahead and pass the tax cuts for the 98% and then fight for the rest of it later. that's what we've been saying on our side. we can do that if five minutes. >> stephanie: that's what nancy pelosi said, extending middle class tax cuts wrought further delay. she said we remain optimistic that we're going to reach an agreement, are you? >> i was less optimistic before tom cole made a statement. tom is held in pretty high regard. he's not what is generally considered a moderate on the republican side. he's a very, very good guy and member of the bourbon caucus, by the way. >> stephanie: ha ha, hee hee.
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